Eclipse Authors: Pat Romanski, Elizabeth White, Liz McMillan, David H Deans, JP Morgenthal

Related Topics: Eclipse

Eclipse: Article

Nevada Star Resource Corp. Completes Name Change, Amalgamation, Stock Consolidation and Reverse Take Over Transaction With Pure Nickel Inc.

Nevada Star Resource Corp. Completes Name Change, Amalgamation, Stock Consolidation and Reverse Take Over Transaction With Pure

SEATTLE, WASHINGTON -- (MARKET WIRE) -- 03/30/07 -- Nevada Star Resource Corp. (TSX VENTURE: NIC)(OTCBB: NVSRF) - Robert Angrisano, former President and CEO of Nevada Star Resource Corp. ("Nevada Star") and continuing member of the Board of Directors and Jay Jaski, Chairman and CEO of Pure Nickel Inc. (Pure Nickel") are pleased to announce the successful completion of the Amalgamation, reverse take over, stock consolidation, and name change to Pure Nickel Inc.

At a Special Meeting of shareholders held in Bellevue, Washington on March 27, 2007, the following three resolutions were approved by a simple majority on the ordinary resolution and at least two-thirds of the votes on the special resolutions:

I. An ordinary resolution approving the issuance of common shares of Nevada Star to the shareholders of Pure Nickel Inc. ("Pure Nickel") pursuant to the amalgamation of Nevada Star and Pure Nickel;

II. A special resolution approving the name change from "Nevada Star Resource Corp." to "Pure Nickel Inc."

III. A special resolution approving the post-Amalgamation consolidation of Nevada Star common shares on the basis of one (1) new common share for every five (5) existing common shares.

In addition Nevada Star requested a new stock symbol for trading under its new name, Pure Nickel, which was approved by the TSX Venture Exchange. The new symbol for TSX Venture trading will be "NIC" effective immediately. The new company name, Pure Nickel will continue to trade on the OTC under the symbol NVSRF.

Shareholders will be contacted and instructed how to exchange their existing share certificates for share certificates of the new company.

On March 15, 2007, Nevada Star closed a private placement (the "Placement") of subscription receipts (the "Subscription Receipts"). Effective March 30, 2007, the Subscription Receipts have been automatically converted into 10,000,000 units (the "Units") of Pure Nickel Inc. without any further action on the part of the subscribers, the Subscription Receipts have been automatically cancelled, and the subscription proceeds held by the escrow agent have been released to Pure Nickel Inc. Each Unit is comprised of a common share and one-half of one share purchase warrant, and each whole share purchase warrant will be exercisable into an additional common share of Pure Nickel Inc. for a period of 18 months thereafter at a price of $1.20 each. The Units are subject to a hold period that expires July 16, 2007. The gross proceeds received by Pure Nickel Inc. from the Placement are $9,000,000.

The Companies headquarters will change from Seattle Washington to Toronto Ontario.

Pure Nickel's 2007 exploration program is fully funded with the proceeds from the Placement. With the closing of the amalgamation and the Placement, Pure Nickel now has 44.76 million shares outstanding and CDN $11.0 million in cash on hand.

Pure Nickel is a mineral exploration company with three advanced nickel sulphide projects located in Canada and Alaska. The Company's $8.0 million 2007 exploration program is fully funded and drill ready.

This release was prepared by management of Pure Nickel Inc. who take full responsibility for its contents.

Neither the TSX Venture Exchange nor the NASD OTC Bulletin Board have reviewed or accept responsibility for the adequacy of this news release.

Nevada Star Resource Corp.
Robert Angrisano
(425) 467-1836
(425) 222-0894 (FAX)
Email: [email protected]
Website: www.nevadastar.com

Pure Nickel Inc.
Jay Jaski
Jay Jaski
(416) 644-0066
(416) 644-0069 (FAX)
Email: [email protected]
Website: www.purenickel.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Comments (0)

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.

IoT & Smart Cities Stories
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...
The challenges of aggregating data from consumer-oriented devices, such as wearable technologies and smart thermostats, are fairly well-understood. However, there are a new set of challenges for IoT devices that generate megabytes or gigabytes of data per second. Certainly, the infrastructure will have to change, as those volumes of data will likely overwhelm the available bandwidth for aggregating the data into a central repository. Ochandarena discusses a whole new way to think about your next...
CloudEXPO | DevOpsSUMMIT | DXWorldEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
All in Mobile is a place where we continually maximize their impact by fostering understanding, empathy, insights, creativity and joy. They believe that a truly useful and desirable mobile app doesn't need the brightest idea or the most advanced technology. A great product begins with understanding people. It's easy to think that customers will love your app, but can you justify it? They make sure your final app is something that users truly want and need. The only way to do this is by ...
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
DXWorldEXPO LLC announced today that Big Data Federation to Exhibit at the 22nd International CloudEXPO, colocated with DevOpsSUMMIT and DXWorldEXPO, November 12-13, 2018 in New York City. Big Data Federation, Inc. develops and applies artificial intelligence to predict financial and economic events that matter. The company uncovers patterns and precise drivers of performance and outcomes with the aid of machine-learning algorithms, big data, and fundamental analysis. Their products are deployed...
Cell networks have the advantage of long-range communications, reaching an estimated 90% of the world. But cell networks such as 2G, 3G and LTE consume lots of power and were designed for connecting people. They are not optimized for low- or battery-powered devices or for IoT applications with infrequently transmitted data. Cell IoT modules that support narrow-band IoT and 4G cell networks will enable cell connectivity, device management, and app enablement for low-power wide-area network IoT. B...
The hierarchical architecture that distributes "compute" within the network specially at the edge can enable new services by harnessing emerging technologies. But Edge-Compute comes at increased cost that needs to be managed and potentially augmented by creative architecture solutions as there will always a catching-up with the capacity demands. Processing power in smartphones has enhanced YoY and there is increasingly spare compute capacity that can be potentially pooled. Uber has successfully ...
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...